10-mark question · Part C · Law of Banking and Negotiable Instruments
A customer of the Royal Bank drew an open cheque for Rs. 1000 payable to 'P'; the cheque was stolen. The thief forged the payee's endorsement and presented the cheque for payment at the branch upon which it was drawn. The bank cashier paid the cheque without asking for proof of his identity. To whom is the bank liable for the cashier's action?
Frequency
1×
papers in the bank
Marks
10
common OU pattern
Years
2016
Appeared in
- Law of Banking and Negotiable Instruments · May/June 2016 Mapped paper Download
Mapped topics
- Paying and collecting banker; forged cheques — Unit II
- Cause of action, notice, successive presentation and territorial jurisdiction — Unit IV
Mapped case laws
Not mapped to a case yet.